DOCSLIB.ORG

83 the Strategies of Coca-Cola's Expansion In

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
83 the Strategies of Coca-Cola's Expansion In Jurnal Studi Diplomasi dan Keamanan, Volume 12, No. 1, Januari 2020 THE STRATEGIES OF COCA-COLA’S EXPANSION IN THE GLOBALIZATION ERA Nanda Pradhana Suprapto President University Jababeka Education Park, Jl. Ki Hajar Dewantara, Cikarang Utara, Jawa Barat 17550 - Indonesia Email : [email protected] Abstrak Tujuan penelitian ini adalah untuk menganalisis strategi ekspansi perusahaan Coca-Cola di era globalisasi. Tulisan ini berfokus pada perusahaan Coca-Cola karena mereka telah terbukti berhasil sebagai salah satu merek yang paling dikenal di pasar global. Makalah ini mengidentifikasi strategi dari tiga CEO ketika pe- rusahaan tersebut berkembang secara global. Penelitian ini menggunakan studi literature untuk me- mahami strategi ekspansi yang diterapkan Coca Cola di era globalisasi. Strategi-strategi ini termasuk pen- guatan brand, distribusi jaringan, peningkatan sumber daya manusianya dan juga perhatian terhadap bu- daya lokal di setiap negara tempat Coca-Cola beroperasi. Strategi-strategi ini membantu perusahaan Co- ca-Cola menjadi sangat kompetitif di pasar global dan mengalahkan sebagian besar pesaingnya. Kata Kunci : Ekspansi Coca-Cola, Strategi, Globalisasi, Pasar Global. Abstract The purpose of this research was to analysis the strategies of Coca-Cola’s expansion in the globalization era. It focuses on the Coca-Cola Company because they have proven successful as one of the most rec- ognize brands in the global market. This research identified the strategies from three CEO when expand- ing globally. Literature study is applied to this research to gain an understanding the strategies of Coca Cola’s expansions in the globalization era. These strategies include brand strengthening, network distribu- tion, improving its human resources and also mindfulness of the local cultures in every country which Co- ca-Cola operates. These strategies helped Coca-Cola Company to become very competitive in the global market and beat down most of its competitors. Key Words: Coca-Cola’s Expansion, Strategies, Globalization, Global Market. 83 INTRODUCTION Globalization gives opportunities to the companies to do expansion in all countries. Petras and Veltmeyer (2001) stated that globalization is flow of goods, services, communication and information across national borders. Coca-Cola is the world’s best-known beverage company focus on expanding customer acceptance in worldwide. A company operating internationally faces two forces of pressure of local responsiveness and pressure of global integration. In 1987, Prahlad and Doz came with an Integra- tion/Responsive (IR) framework on internationalization, their IR framework created a big platform for the study on global business, which helps to form an international strategy that has multi dimensional contex- tual setting. IR framework has limitations for the global industrial competition specified only for the first stage, vagueness in the concept that defines the bond between industry forces and finally lack of proof for supporting the framework. Bartlett and Ghoshal (2008) further studied and came with some additions in IR framework and came up with 4 strategies that are international, global, transitional and multi- domestic approaches to the foreign market. The Global Strategy adopted by Coca-Cola can be critically analysed using the IR framework proposed by Bartlett, Ghoshal and Beamish (2008) and Hill (2009). The global standardization products and services focus on huge profit, but they compromise on their products price. The marketing research, production and research are done in precise regions with some certain standard and it is sold globally. So those type of products face a huge pressure in reducing the price according to the place where it is sold for example Intel, a chip company (Hill, 2009). According to Bartlett and Ghoshal (2002), a solution for the cross border business is Transnational, which is consid- ered as the important approach for the international market. The transnational strategy gives a lot of pressure to the company for cost reduction and local responsiveness. This could be achieved by transfer- ring the precise skills and expectations of the company from the home country to the needs of the for- eign country, where they compete with the local market with reduced price for example Caterpillar (Hill, 2009). Dr. John Stith Pemberton is responsible for the discovery of the drink that initially revolutionized the fountain drink industry and has continued its world-shattering hike for the past 126 years and has steadfastly transformed the modern day beverage market. Dr. Pemberton, on May 8, 1886, in Atlanta, Georgia, first introduced his product to Jacobs’ Pharmacy where it was sold for five cents a glass as a fountain drink. The Coca-Cola Company is now the world’s largest beverage company. They own or li- cense and market more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks. Coca-Cola Company own and market four of the world’s top five nonalcoholic sparkling beverage brands: Coca-Cola, Diet Coke, Fanta and Sprite. Finished beverage prod- ucts bearing the Coca-Cola trademarks are now sold in more than 200 countries. The Coca-Cola Company has been in existence for more than 100 years not because competition doesn’t exist, but because it has studiously evolved its business policies and strategies. 84 Jurnal Studi Diplomasi dan Keamanan, Volume 12, No. 1, Januari 2020 Table 1. The Coca-Cola Company Comparison Source: The Business and Management Review, 2012, Vol. 3, No. 1, p. 166 Coke is one of the most recognizable brands in the world. The goal of the company's internation- al marketing team is to help expand global sales. The company sold its first Coke in 1886 at Jacobs' Phar- macy, but the company's mission hasn't changed; the goal is to sell the highest number of beverages to the most people. Based in Atlanta, Georgia, the company focuses on making non-alcoholic beverages accessible. With hundreds of brands, some of the more popular examples are Diet Coke, Sprite, Dasani, Nestea, and Fanta. Worldwide, nearly 10,000 Coke beverages are consumed every second. The more Cokes the international marketing team sells, the more revenue the company makes. Much of the compa- ny's 40 Billion US Dollars in revenue growth now comes from globalization, not just growth within the borders of the United States. Globalization is the expansion and development of international markets outside of the company's home country. Let's look at how Coke has gradually globalized into the interna- tional market. This paper tries to explain about the strategies from three CEO of Coca-Cola Company when ex- panding globally. These strategies include brand strengthening, network distribution, improving its hu- man resources and also mindfulness of the local cultures in every country which Coca-Cola operates. This 85 paper firstly adapts the literature study to gain an understanding and to demonstrate knowledge of the existing research and debates relevant to a particular topic which is in this case the strategies of Coca Co- la’s expansions in the globalization era. DISCUSSION The Coca-Cola Strategy in Emphasizing the Global Standards Coca Cola was a huge success in the US and by the 1900s it had expanded into 8 other countries and counting. Today, it is enjoyed in over 200 countries worldwide. (Coca-Cola Company, Heritage Time- line, 2011). There are two strategies that they could have used to help them do this, Standardized and Localized strategies. Standardized strategy involves the product and the price being made at a set level across the whole organization across the world. This begins by ‘minimizing the differences in your prod- ucts, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding.’ (Acevdeo, 2012). By making the product the same across all markets the cost can be decreased, with the economies of scale being put to use, (Buying in bulk will reduce the overall cost) and the same format being laid throughout the organization will help efficiency. The price for the product will also be at the same standard ‘fixed world price’ and applying it to all markets, taking into ac- count exchange rates and variations in laws and regulations. (Hollensen, 2004) This would work for Coca- Cola, as it would allow the product to be made efficiently with low cost, low risk and the product being the same everywhere. This provides an opportunity for a rapid introduction of any new products in inter- national markets. (Hollensen, 2004). Whereas, with a localized strategy it’s another matter; ‘Localizing a product or service is the pro- cess of adapting them to a particular language, culture, and desired local “look-and-feel.” (Rouse, 2005). For Coca Cola this will be done through a number of actions, first and foremost would be changing their method of advertising, as that is their most powerful tool. Advertisement would be changed to suit each individual culture, although it is kept near enough the same structure certain aspects would be changed, for instance in India the use of celebrities would be used more than in Africa whereby football is the big- ger love of the people. This would allow Coca Cola to maximize profits as it’s focusing on each market, however it cost time and may create more difficulties. According to the case study, Roberto
Load more

Recommended publications
  • Full-Time MBA Catalog 2020-2021
    Full-time MBA Catalog 2020-2021 I CERTIFY THIS COPY TO BE TRUE AND CORRECT TO CONTENT AND POLICY _______________________________________ Goizueta Business School Full-time MBA Program One-Year and Two-Year formats Catalog About Goizueta Business School https://goizueta.emory.edu/about OUTLINING SUCCESS,WRITING NEW CHAPTERS Business education has been an integral part of Emory University's identity for more than 100 years. That kind of longevity and significance does not come without a culture built around success and service. Goizueta Advisory Board • Sarah Brown 89MBA, Global Account Director at The Coca-Cola Company (Marietta, GA) • Andrew J. Conway 92MBA, Managing Director at Credit Suisse (Scarsdale, NY) • H. James Dallas 94WEMBA (Atlanta, GA) • Jeffrey C. Denneen 97MBA, Leader, Americas Higher Education Practice at Bain & Company, Inc. (Atlanta, GA) • Robert K. Ehudin 86BBA, Managing Director at Goldman Sachs Group, Inc. (Rye Brook, NY) • Matthew H. Friedman 94BBA, Fidelity Investments (Boston, MA) • Gardiner W. Garrard III 99MBA, Co-Founder, Managing Partner, CEO of TTV Capital (Atlanta, GA) • Rebecca Morris Ginzburg 94BBA, Junto Capital Management, LP (New York, NY) • Michael M. Grindell 99WEMBA, EVP, Chief Administrative Officer, 22squared (Atlanta, GA) • Brian K. Howard, M.D. 15WEMBA, President, North Fulton Plastic Surgery (Atlanta, GA) • Omar A. Johnson 04MBA, Vice President-Marketing, Apple Computer • Mary Humann Judson, President, The Goizueta Foundation (Atlanta, GA) • Michael Marino 94MBA, Managing Director at JP Morgan Chase & Co. (Atlanta, GA) • Jonathan I. Mayblum 84BBA, Co-Founder & CEO of ARCTURUS (Armonk, NY) • Leslie D.J. Patterson 99MBA, EY, Growth Markets Leader (Atlanta, GA) • Olga Goizueta Rawls 77C, Chair & Director of The Goizueta Foundation (Atlanta, GA) • Matthew P.
    [Show full text]
  • Extensions of Remarks
    April 12, 1988 EXTENSIONS OF REMARKS 6489 EXTENSIONS OF REMARKS SANCTIONS: THE CONGRESS' the President's veto and passed these sanc­ son, it is important to reflect on just what CURSE ON THE PEOPLE OF tions? When President Reagan vetoed the they thought they would achieve in the SOUTH AFRICA Comprehensive Anti-Apartheid Act, he did not heady days of October 1986 when Congress do so under disdain for the South African overrode a White House veto to secure the blacks. He foresaw the effect these sanctions first humiliating defeat of a hitherto all­ HON. PHILIP M. CRANE conquering President. OF ILLINOIS would have on the black community. But why It is perhaps not too cynical to suggest IN THE HOUSE OF REPRESENTATIVES did so many Congressmen ignore his warn­ that that was part of the attraction. But ings? Was it a lack of foresight? Or did they Tuesday, April 12, 1988 other motives were confused and contradic­ simply use the black's struggle to enhance tory. For some-the high-minded rather Mr. CRANE. Mr. Speaker, as Americans we their own public image? than the ruthless-excommunication was all feel a burning desire to help the oppressed I challenge my colleagues to open their the only way to convince Pretoria of the people of the world in the struggle against minds and put the interests of the South Afri­ error of its ways; white South Africans their tyrants. We observe these people's tire­ can blacks ahead of their own. Instead of would feel the pinch and, putting wealth less fight to secure a better future for their searching for praise from the media, we need above racism, would force their government children and embrace their struggle as if it to search for answers.
    [Show full text]
  • The Launch of New Coke
    502-068-1 The Launch of New Coke This case was written by P Mohan Chandran, under the direction of Vivek Gupta, ICFAI Center for Management Research (ICMR). It is intended to be used as the basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. The case was compiled from published sources. ECCH Collection © 2002, ICFAI Center for Management Research (ICMR), Hyderabad, India. E E U S R U O O P H Distributed by The European Case Clearing House, England and USA. E A G North America, phone: +1 781 239 5884, fax: +1 781 239 5885, e-mail: [email protected]. N N I Rest of the World, phone: +44 (0)1234 750903, fax: +44 (0)1234 751125, e-mail: [email protected]. C R A A All rights reserved. Printed in UK and USA. Web Site: http://www.ecch.cranfield.ac.uk. S E E C L 502-068-1 THE LAUNCH OF NEW COKE “We set out to change the dynamics of sugar colas in the US, and we did exactly that - albeit not in the way we had planned.” - Roberto Goizueta, Chairman & President, Coke, after the ‘New Coke’ fiasco. INTRODUCTION On April 23, 1985, Coca-Cola, the largest aerated beverage manufacturer of the world, launched a sweeter version of the soft drink named ‘New Coke,’ withdrawing its traditional 99 years old formula. New Coke was launched with a lot of fanfare and was widely publicized through the television and newspapers. Coca-Cola’s decision to change Coke’s formulation was one of the most significant developments in the soft drink industry during that time.
    [Show full text]
  • “The Spanish Inquisition”
    “The Spanish Inquisition” by David Greising S HE SAT IN THE PRESIDENT’S OFFICE affairs if he let his protégé claim the chairman’s slot. If for the first time, early in the morning of June Goizueta ran the board meetings, he would be positioned 2, 1980, Roberto Goizueta took advantage of the to dictate to Woodruff’s prized Finance Committee. quiet moment to mark the occasion with a one- Woodruff knew that if he lost his hold on Coke’s purse A strings, his control of the company would end. paragraph note to his benefactor, Robert W. Woodruff. “I would be remiss if I did not begin my first day as Physically weak and mentally depleted, the 90-year- President of our great Company with a word of deep ap- old Woodruff still was sharp enough not to repeat an preciation to you,” he wrote, typing the letter without earlier mistake he had made. In the mid-1960s, he had assistance of a secretary. “You have honored me beyond let Austin consolidate too much power, because the all expectations. I will let my performance on the job strong young Harvard Law School graduate and Coca- speak for itself. I pledge to you my total commitment to Cola Export Company star had seemed such a promis- honor you, and those who made me their choice for the ing leader. Woodruff regarded Goizueta even more job, by moving our Company ahead to even higher lev- highly than he had Austin, but there was no telling where els of growth and achievement.” the 49-year-old Cuban would take Woodruff’s company Goizueta was fortunate to have one sparkling instant if given unfettered reign.
    [Show full text]
  • Brand Guidelines Goizueta Business School Brand Guide
    BRAND GUIDELINES GOIZUETA BUSINESS SCHOOL BRAND GUIDE TABLE OF CONTENTS 01 | Brand Strategy Vision & Mission Core Values Audience & Architecture 02 | Brand Identity Colors Metaphors Logos Fonts & Typography Voice & Tone Iconography & Illustration Photography 03 | Brand Execution Mood Board Samples Visual Assets Templates Sub-Brands 04 | Editorial Style Sheet Apostrophe Capitalization Colon Comma Dashes Dates and Time Electronic Media Numbers Period Quotations Spacing That, Which, and Who U.S. States and Territories Class Notes Editorial Recommendations GOIZUETA BUSINESS SCHOOL BRAND GUIDE | 3 BRAND STRATEGY GOIZUETA BUSINESS SCHOOL BRAND GUIDE BRAND STRATEGY | 4 BRAND STRATEGY GOIZUETA'S MISSION Our mission is to prepare principled leaders to have a positive influence on business and society. GOIZUETA'S VISION To be the community of choice for learners, leaders, and educators who are admired for positively influencing the world of business. GOIZUETA'S BRAND PROMISE The Goizueta Business School strives to be the voice, authority, and influence of meaningful business performance that ignites passion to drive lasting change. GOIZUETA'S STRATEGY Raise the stature of goizueta business school with key constituents by leveraging our entrepreneurial spirit among faculty and staff to deliver innovative ideas that foster collaboration, further our external influence and fuel our financial resources. CORE VALUES COURAGE INTEGRITY ACCOUNTABILITY TEAM COMMUNITY RIGOR DIVERSITY RESPECT SCHOLARSHIP LEADERSHIP GOIZUETA BUSINESS SCHOOL BRAND GUIDE BRAND
    [Show full text]
  • Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Levy, Daniel; Young, Andrew T. Working Paper Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract Suggested Citation: Levy, Daniel; Young, Andrew T. (2019) : Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract, ZBW – Leibniz Information Centre for Economics, Kiel, Hamburg This Version is available at: http://hdl.handle.net/10419/197001 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract* Daniel Levy** Department of Economics, Bar-Ilan University Ramat-Gan 52900, ISRAEL, Department of Economics, Emory University Atlanta GA, 30322, USA, and Rimini Center for Economic Analysis, ITALY [email protected] Andrew T.
    [Show full text]
  • Atlanta Heritage Trails 2.3 Miles, Easy–Moderate
    4th Edition AtlantaAtlanta WalksWalks 4th Edition AtlantaAtlanta WalksWalks A Comprehensive Guide to Walking, Running, and Bicycling the Area’s Scenic and Historic Locales Ren and Helen Davis Published by PEACHTREE PUBLISHERS 1700 Chattahoochee Avenue Atlanta, Georgia 30318-2112 www.peachtree-online.com Copyright © 1988, 1993, 1998, 2003, 2011 by Render S. Davis and Helen E. Davis All photos © 1998, 2003, 2011 by Render S. Davis and Helen E. Davis All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopy, recording, or any other—except for brief quotations in printed reviews, without prior permission of the publisher. This book is a revised edition of Atlanta’s Urban Trails.Vol. 1, City Tours.Vol. 2, Country Tours. Atlanta: Susan Hunter Publishing, 1988. Maps by Twin Studios and XNR Productions Book design by Loraine M. Joyner Cover design by Maureen Withee Composition by Robin Sherman Fourth Edition 10 9 8 7 6 5 4 3 2 1 Manufactured in August 2011 in Harrisonburg, Virgina, by RR Donnelley & Sons in the United States of America Library of Congress Cataloging in Publication Data Davis, Ren, 1951- Atlanta walks : a comprehensive guide to walking, running, and bicycling the area’s scenic and historic locales / written by Ren and Helen Davis. -- 4th ed. p. cm. Includes bibliographical references and index. ISBN 978-1-56145-584-3 (alk. paper) 1. Atlanta (Ga.)--Tours. 2. Atlanta Region (Ga.)--Tours. 3. Walking--Georgia--Atlanta-- Guidebooks. 4. Walking--Georgia--Atlanta Region--Guidebooks. 5.
    [Show full text]
  • 01 Stern 2/10/04 10:54 AM Page 9
    01 stern 2/10/04 10:54 AM Page 9 PART ONE Value Mindset 01 stern 2/10/04 10:54 AM Page 10 01 stern 2/10/04 10:54 AM Page 11 1 A REVOLUTION IN VALUE evolution is a much-abused word. Its accepted meaning is “complete change.” In fact, a revolution is, as the word suggests, a return to R the original. There is a world of difference between a revolt and a revolution. The value mindset is a revolutionary concept, in that it returns to the very roots of capitalism: the concept of investing resources in order to gen- erate a return based on the risk taken. Jesus Christ’s Parable of the Talents takes the idea back two millennia.1 Likewise, the value mindset was not alien to the original capitalists who despatched galleons to the Spice Islands or raised satanic mills on England’s green and pleasant land. These capitalists managed directly for value. The money risked was theirs, and the rewards that flowed from taking that risk—after sharing the booty with surviving sailors or paying the mill workers—came directly to them. Fast forward to the present. What do we see? Like government, compa- nies grow big, diversify, cross subsidize, bloat, and stagnate. As with govern- ment, goal seeking and politics compromise the quest for value. Creating value is in practice a “take it or leave it” option—either you create value, or you do not. There is no half way. And yet shareholder value has become a mantra, much repeated.
    [Show full text]
  • Deaver, Michael: Files Folder Title: March 1984 Incoming (1) Box: 17
    Ronald Reagan Presidential Library Digital Library Collections This is a PDF of a folder from our textual collections. Collection: Deaver, Michael: Files Folder Title: March 1984 Incoming (1) Box: 17 To see more digitized collections visit: https://reaganlibrary.gov/archives/digital-library To see all Ronald Reagan Presidential Library inventories visit: https://reaganlibrary.gov/document-collection Contact a reference archivist at: [email protected] Citation Guidelines: https://reaganlibrary.gov/citing National Archives Catalogue: https://catalog.archives.gov/ Cl - IJ\MfH:.I~ OF COM MERCE ~ Of' THE / UNITED STATES OF AMERICA _ ~ ~~ vM ~ :e THOMAS J. DONOHUE ~~~~< I ~~ ·m:r, N.W. G~OUP VICE PRESIDENT, D t-YELOPMENT February 29, 1984 l,..P~\J... l WAs111N crnN ,D.. :200() :? ~ ;.?Q :v10 : 1- !1 ~\IO W t~ o.JF) : .~~~~.~\ Jee- V' The Honorable James A. Baker ~~ Chief of Staff The White House 1A? .,;-vvJ aft Washington, D.C. 20500 Dear Jim: ~6 r; : ~o Yesterday's meeting was very helpful. I will follow-up by working 1vith Craig to brief Mike Deaver on Bi zNet and the related Ch ambe r matters we discussed. · In addition, I will speak to Rollins, Lake and Cameron at the Reagan -B ush Comnittee . Attached you will find packets of information on BizNet­ and our voter registration program for your use. Jim as you know, the President cannot address the Cha mber 's 1984 Annual Meeti ng (A pr il 30 - May 1) because of his trip to China . As the attac hed note to Craig indicates, we would li ke to have Vice Pres id ent Bush ad dress our group, and the Pres id ent prepa re a tape which we wou ld be ab l e to show at our First General Session.
    [Show full text]
  • Coke Vs. Pepsi: the Cola Wars in South Africa During the Anti- Apartheid Era
    Georgia State University ScholarWorks @ Georgia State University History Theses Department of History 7-8-2009 Coke vs. Pepsi: The Cola Wars in South Africa during The Anti- Apartheid Era John Kirby Spivey Follow this and additional works at: https://scholarworks.gsu.edu/history_theses Part of the History Commons Recommended Citation Spivey, John Kirby, "Coke vs. Pepsi: The Cola Wars in South Africa during The Anti-Apartheid Era." Thesis, Georgia State University, 2009. https://scholarworks.gsu.edu/history_theses/35 This Thesis is brought to you for free and open access by the Department of History at ScholarWorks @ Georgia State University. It has been accepted for inclusion in History Theses by an authorized administrator of ScholarWorks @ Georgia State University. For more information, please contact [email protected]. COKE VS. PEPSI: THE COLA WARS IN SOUTH AFRICA DURING THE ANTI- APARTHEID ERA by J. KIRBY SPIVEY Under the Direction of Dr. Jared Poley ABSTRACT This thesis looks at the actions of Coca-Cola and Pepsi in South Africa during both the anti- apartheid movement and the post-apartheid era. The processes which led to those actions, both corporations’ removal of their presence in South Africa, the effects this had on South Africa, and their reemergence in a post-apartheid state are examined. It will be shown that, despite the public relations campaigns of both Coke and Pepsi, far more importance was placed on their products’ profitability than the well-being of the black Africans who produced, delivered, or consumed the soft drinks. However, both companies found their actions during the 1980s to affect their success after the fall of apartheid.
    [Show full text]
  • Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Munich RePEc Personal Archive MPRA Munich Personal RePEc Archive Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract Daniel Levy and Andrew Young Bar-Ilan University, Emory University, and RCEA, Texas Tech University 26 May 2019 Online at https://mpra.ub.uni-muenchen.de/94148/ MPRA Paper No. 94148, posted 29 May 2019 13:06 UTC Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract* Daniel Levy** Department of Economics, Bar-Ilan University Ramat-Gan 52900, ISRAEL, Department of Economics, Emory University Atlanta GA, 30322, USA, and Rimini Center for Economic Analysis, ITALY [email protected] Andrew T. Young College of Business Administration Texas Tech University Lubbock, TX 79409, USA [email protected] Last Revision: May 26, 2019 JEL Codes: A14, E12, E31, K10, L14, L16, L66, M30, N80 Keywords: Implicit Contract, Cost of Breaching a Contract, Cost of Breaking a Contract, Invisible Handshake, Customer Market, Long-Term Relationship, Price Rigidity, Sticky Prices, Nickel Coke, Coca-Cola, Secret Formula * We thank the seminar participants at the 2017 Italian Law and Economics Association annual conference (LUMSA, Rome), at the 2018 Economic History Association of Israel annual conference (Tel Aviv University), at the 2015 Israeli History and Law Association annual conference (Ben-Zvi Institute, Jerusalem), and at Bar-Ilan University, for comments and suggestions. In particular, we thank Alexander Stremitzer, Ansgar Wohlschlegel, Dror Goldberg, Igor Livshits, David Klein, Itamar Caspi, and Osnat Peled, for helpful comments and suggestions. We are grateful to Dan Schwarzfuchs and David Geffen for bringing to our attention a 1935 change in the Secret Formula, which we were unaware of.
    [Show full text]
  • A Magazine for Alumni and Friends of Emory University's
    A MAGAZINE FOR ALUMNI AND FRIENDS OF EMORY University’s GOIZUETA BUSINESS SCHOOL business WINTER 2012 PRINCIPLE-BASED LEADERSHIP RENOVATING VETERANS ENHANCE HUND PORTRAIT CURRICULUM AND CLASSROOM UNVEILING + SpaCES EXPERIENCE LESSONS ON Alumni veterans share LEADERSHIP insights from 175 HISTORY MAKERS HONORED the field Several Goizueta alumni are among those recognized during 34 Emory University’s anniversary celebration 10 FEATURES Todd 18 HOW DO YOU LEAD? contents Foreman COFFEE WITH...RICK GILKEY C-level alums provide perspectives on leadership 9 86BBA on 43 leading in 28 HOLISTIC APPROACH tough times Vice Dean Maryam Alavi discusses the conceptual blueprint EMBA scholarship Shan Carr Cooper for the school’s leadership program Lee Pasackow shares recognizes 95EvMBA opens expertise on Fulbright 24 accomplishments mentor session 54 goizuetabuzz yournetwork + plus WINTER 2012 The neuroimaging 04 NEW ADDITIONS 44 LEADING IN A CRISIS 40 MERITS OF UNRESTRICTED of executive Goizueta welcomes new faculty Ulugbek Muslimov 98BBA on managing GIVING 14 decision making high-stake challenges 06 KUDOS 56 ADVICE ON Students excel in prestigious case competition 45 FROM FINANCE TO FASHION MAINTAINING OPTIMAL Laura Gottlieb Siegel 97BBA on breaking into fashion PERFORMANCE 07 HONORARY DOCTORATE Professor Emeritus Al Hartgraves receives 47 OVERCOMING OBSTACLES 57 WHAT’S NEW: Austrian honor Miles Hinderliter 08EvMBA on M&A in the Big Apple CLASS NOTES winter | 2012 goizuetavision Senior Associate Dean for Photographers Founded in 1919, Goizueta External Relations and Tony Benner Professor of Marketing Ann Borden Business School provides a Douglas Bowman Wilford Harewood world-class business education Kay Hinton Moses Robinson that combines functional Magazine Alumni Advisory Board Jon Rou Atul Agarwal 07MBA; Jeff Booth specialization with a broad Allison Shirreffs 84BBA 94MBA; Rosalie (Sakkas) Philip Spears business perspective to create Collado 05EMBA; Steve Greenfield 04EvMBA; Mara Lapp 97BBA; Contributors principle-based leaders.
    [Show full text]